Finance

Zarea Limited’s IPO: A Major Step Towards Digital Transformation Zarea Limited (ZL), a business-to-business (B2B) e-commerce platform, applied for listing on the Pakistan Stock Exchange (PSX) on Monday. The company aims to raise at least Rs1 billion through an initial public offering (IPO) of 62.50 million shares, priced at a minimum of Rs16 per share. This offering is open to …

The Pakistan Stock Exchange (PSX) continued its record-breaking rally on Monday, with the benchmark KSE-100 Index registering new highs after gaining over 900 points during trading. Benchmark Index Performance At 12 PM, the benchmark index was at 90,936.21, reflecting an increase of 942.25 points or 1.05%. Earlier in the day, it reached an intra-day high of 91,054.83. Sector Highlights Buying …

The Pakistan Stock Exchange (PSX) reached a historic milestone on Friday as the KSE-100 index broke past the 90,000-point barrier during intra-day trading. The index climbed to 90,087.41 points at 10 a.m., gaining 1,109.73 points or 1.25% from the previous close of 88,945.98 points. This upward momentum continued throughout the week, showcasing sustained market optimism. Factors Driving the Rally Investor …

Pakistan Misses IMF Cash Surplus Target by Rs182 Billion Due to Punjab’s Performance Pakistan has failed to meet a major condition of the International Monetary Fund (IMF) to generate Rs342 billion in cash surplus from the four provincial governments. This shortfall, driven by Punjab’s underperformance, reached Rs182 billion, falling 53% short of the target in the first quarter of the …

KSE-100 Index Hits New Record at PSX The Pakistan Stock Exchange (PSX) continued its upward momentum on Wednesday, with the KSE-100 Index surpassing 87,000 points for the first time. The index closed at an all-time high of 87,194.53 points, marking a gain of 727.96 points or 0.84%. During the day, the index touched a record intra-day high of 87,309.22 points, …

Government Withdraws Energy Subsidies In a bold move, the government has announced the withdrawal of all subsidies on electricity and gas. This applies to federal and provincial subsidies and is a part of efforts to address the ongoing circular debt crisis in Pakistan’s energy sector. The International Monetary Fund (IMF) has been informed about the new measures aimed at stabilizing …

Oil Industry Concerns Over Restrictive Pricing The oil industry in Pakistan has raised serious concerns over the restrictive pricing of motor fuels, which has reportedly caused significant financial losses. The Oil Companies Advisory Council (OCAC), representing refineries and oil marketing companies (OMCs), expressed these concerns in a letter to the Oil and Gas Regulatory Authority (OGRA) chairman. The council warned …

Pakistan’s Forex Reserves Reach $11 Billion After 30-Month Gap Pakistan’s foreign exchange reserves, held by the State Bank of Pakistan (SBP), rose to over $11 billion as of October 11, 2024. This marks an increase of $215 million in a week and a significant milestone after 30 months. The reserves have grown for 12 consecutive weeks, reflecting an overall increase …

LHC Blocks Retroactive Income Tax on Property Transactions The Lahore High Court (LHC) has ruled that the Federal Board of Revenue (FBR) cannot impose newly introduced income tax rates for late filers on past property transactions. The decision came after the Defence Housing Authority (DHA) filed a petition, challenging the FBR’s application of higher tax rates on deals closed in …

HBL Reports PKR 14.5bn Profit for 3QCY24 with Strong Non-Funded Income Growth Habib Bank Limited (HBL) reported earnings of PKR 14.5 billion (EPS: PKR 9.85) for the third quarter of 2024 (3QCY24), reflecting a year-on-year (YoY) decline of 13% but a quarter-on-quarter (QoQ) increase of 1%. For the first nine months of 2024 (9MCY24), the bank’s total earnings reached PKR …